If you pay independent contractors $600 or more annually, you must report those payments to the IRS on Form 1099-NEC. The process is fairly simple if you only need to send one or two, but it gets more ...

If you regularly work with independent contractors or vendors, you’ll probably need to send them Form 1099 at the beginning of the year. There are over 20 types of 1099 forms, but fortunately, most ...

The IRS will begin processing 2024 tax returns on Jan. 27. The last day you can file your 2024 taxes without requesting an extension is Tuesday, April 15, 2025. Gig workers who earned more than $5,000 ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Closeup of Form 1099-NEC, Nonemployee Compensation. The IRS has ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. If you call or write the payer asking for a Form 1099, the payer ...

I may not be the first to tell you, but don’t forget about an additional benefit of the 870-page One Big Beautiful Bill Act passed in July. As ...

One law provision new for tax years beginning in 2022 and after that could catch many individual taxpayers by surprise — particularly those in the “gig economy” — is the much lower threshold at which ...

Did you make over five grand on a marketplace app? Maybe you're an Uber or Lyft driver and you make some money on the side. Or you sell baked goods or do hair on the weekends, and customers pay you on ...

In order to raise revenue without raising taxes, part of the Patient Protection and Affordable Care Act (PPACA) included some provisions that have had business owners up in arms since the act was ...